Deals
Hong Kong's Richest Man Doubles Down on Electric Cars
- Li Ka-shing foundation agrees to buy 100 million shares
- Shares of O Luxe Holdings have more than doubled this year
Li Ka-shing
Photographer: Justin Chin/BloombergThis article is for subscribers only.
Billionaire Li Ka-shing agreed to buy shares in O Luxe Holdings Ltd. for the second time in a month, a deal that would make Hong Kong’s richest man the second-largest investor in the owner of an electric-car maker. Shares of O Luxe rose.
Goldrank Ltd., a wholly-owned subsidiary of Li Ka Shing (Overseas) Foundation, agreed to buy 100 million shares at HK$1.60 each from O Luxe’s chairman, according to a statement to the Hong Kong Stock Exchange on Monday. The price was 8 percent below the stock’s last close.
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Hong Kong's Richest Man Doubles Down on Electric Cars